HubSpot (NYSE:HUBS) Releases FY 2024 Earnings Guidance

HubSpot (NYSE:HUBS) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 7.980-8.000 for the period, compared to the consensus earnings per share estimate of 7.720. The company issued revenue guidance of $2.6 billion-$2.6 billion, compared to the consensus revenue estimate of $2.6 billion. HubSpot also updated its FY24 guidance to $7.98-$8.00 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HUBS. Evercore ISI raised their price target on shares of HubSpot from $550.00 to $610.00 and gave the stock an “in-line” rating in a report on Wednesday, October 23rd. Piper Sandler reissued an “overweight” rating and issued a $570.00 target price on shares of HubSpot in a research note on Thursday, September 19th. KeyCorp upgraded HubSpot from an “underweight” rating to a “sector weight” rating and set a $460.00 price objective for the company in a report on Thursday, August 8th. Oppenheimer reissued an “outperform” rating and set a $625.00 target price on shares of HubSpot in a research note on Thursday, September 19th. Finally, UBS Group dropped their price target on HubSpot from $580.00 to $550.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $614.33.

HubSpot Price Performance

Shares of HUBS traded up $19.45 during trading hours on Wednesday, hitting $597.73. The company had a trading volume of 886,667 shares, compared to its average volume of 356,151. HubSpot has a 52-week low of $413.07 and a 52-week high of $693.85. The firm has a fifty day moving average price of $529.41 and a 200-day moving average price of $545.99.

HubSpot (NYSE:HUBS) last issued its earnings results on Wednesday, August 7th. The software maker reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.30. The firm had revenue of $637.20 million for the quarter, compared to the consensus estimate of $619.28 million. HubSpot had a negative net margin of 1.15% and a negative return on equity of 2.33%. The business’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.17) earnings per share.

Insider Buying and Selling

In other HubSpot news, CEO Yamini Rangan sold 116 shares of HubSpot stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $491.19, for a total value of $56,978.04. Following the completion of the sale, the chief executive officer now owns 67,203 shares of the company’s stock, valued at approximately $33,009,441.57. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Yamini Rangan sold 116 shares of HubSpot stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $491.19, for a total value of $56,978.04. Following the completion of the sale, the chief executive officer now directly owns 67,203 shares in the company, valued at $33,009,441.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kathryn Bueker sold 1,804 shares of HubSpot stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $550.00, for a total transaction of $992,200.00. Following the completion of the sale, the chief financial officer now directly owns 41,259 shares of the company’s stock, valued at approximately $22,692,450. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,937 shares of company stock worth $3,194,673 in the last three months. Insiders own 4.50% of the company’s stock.

HubSpot Company Profile

HubSpot, Inc, together with its subsidiaries, provides a cloud-based customer relationship management (CRM) platform for businesses in the Americas, Europe, and the Asia Pacific. The company's CRM platform includes Marketing Hub, a toolset for marketing automation and email, social media, SEO, and reporting and analytics; Sales Hub offers email templates and tracking, conversations and live chat, meeting and call scheduling, lead and website visit alerts, lead scoring, sales automation, pipeline management, quoting, forecasting, and reporting; Service Hub, a service software designed to help businesses manage, respond, and connect with customers; and Content Management Systems Hub enables businesses to create new and edit existing web content.